Personal Loan Interest Rates
| Bank | Interest Rate | Processing Fee |
|---|---|---|
| SBI Personal Loan | 12.50% | In the range of 2% to 3% |
| HDFC Bank Personal Loan | 11.25% | Min 0.99%, Max 2.50% Up to Rs. 10,000 |
| ICICI Bank Personal Loan | 11.25% | Starting from 0.99%, Up to 2.25% |
| Bajaj Finserv | 11.99% | Starting from 1.50%, Up to 3% |
| PNB | 12.00% | 1.8% + taxes |
Personal Loan EMI Calculator
first emi goes to mostly interest 70% 30% principal (loan foreclosure)
1.6pm =19.2
1.68 pm=22.2%
2 rupees pm=24%
| lending company | SBI (reduced) | Bajaj finserv (flat) |
| loan amount | 40k (zeo processing fee / 1% up 2 lakh) | 35k (31k after 3%gst,pApolicy) |
| emi | 2467 | 2049 |
| tenure | 18 | 24 |
| rate | 13.5% (reduced) | 20.22% (flat/fixed) |
| interest paid | 2470*18=44460 -40k (4460)18m | 2049*24=49176-35000 =14176 24m |
fixed rate loans
foreclosure
part payment no benefit,
because interest calculated @20.22/YR FOR 1/2/3 Years then emi calculated.
where areas reduced rate emi calculated monthly basis.
interest amount goes down while prical decreases
